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Legal professionals expect transformative impact from AI
Recent research by Thomson Reuters indicates that a significant majority of professionals anticipate artificial intelligence (AI) will revolutionise their fields. However, does this advancement present challenges or opportunities for improvement?
Grace Robbie
Global content and technology company Thomson Reuters recently unveiled its new report, Future of Professionals Report – Asia & Emerging Markets Edition, which intends to provide insight into professionals’ perceptions and expectations regarding the impact of AI within their respective fields.
The report revealed that a significant 64 per cent of professionals anticipate AI having a “transformative or high impact on their profession” within the next five years, underscoring the growing recognition of AI’s potential across various industries.
The Thomson Reuters report also explored professionals’ preferences regarding AI assisting their daily work lives.
A notable 70 per cent expressed a strong desire for AI to assist in “work product creation”, encompassing tasks such as drafting, refining or editing documents and analyses. Additionally, 51 per cent of professionals sought AI to reduce administrative tasks, allowing them to dedicate more time to their professional work.
Furthermore, 40 per cent of respondents expressed interest in AI assistance through “intelligent interfaces”, such as conversation and assistive software. Meanwhile, 27 per cent identified a need for AI support in “intelligent information retrieval” tasks, including “searching for and interpreting information across databases and sources”.
Interestingly, a majority (53 per cent) of professionals believe that AI adoption will not introduce “new pressure or challenges for their organisations, or their professions more widely”.
Moreover, nearly half of the industry professionals surveyed expressed confidence in AI’s potential to drive growth in specific areas for their firm. Specifically, 48 per cent believe AI can enhance internal process efficiency, while 47 per cent are optimistic about its ability to foster improved collaboration.
However, 44 per cent of respondents anticipate new challenges arising from AI that their organisations would need to address. Notably, one in four corporate professionals expressed concerns about AI exacerbating challenges in “prevent[ing] or detect[ing] fraudulent behaviour”, reflecting the escalating threat of cyber attacks worldwide.
The survey also uncovered professionals’ “worst fears regarding AI in their professions”. The most commonly cited fear was the irresponsible use of AI, with 29 per cent expressing concern. Additionally, 19 per cent voiced worries about the potential widespread loss of jobs due to AI implementation. Other concerns outlined “included the loss of transparency (13 per cent) and that AI will be used unethically (10 per cent).
The findings from Thomson Reuters highlight a nuanced perspective among professionals.
While many are eager to embrace AI and recognise its potential benefits, they also harbour ethical and social concerns about its expanding presence in the workplace. This underscores the importance of addressing these concerns and ensuring responsible AI implementation to maximise its positive impact while mitigating potential risks.
